Bank of Baroda Personal Loan Interest Rate

Preliminary Information

Loan Details

Personal Details


Bank of Baroda Personal Loan Interest Rates 8th March 2021

Tenure MCLR (in %)
Overnight MCLR 9.15
MCLR for 1 month 9.20
MCLR for 3 months 9.30
MCLR for 6 months 9.35
MCLR for 1 year 9.40%
MCLR for 3 years 9.40$
MCLR for 5 years 9.60%

The RBI guidelines state that the loans offered by the Bank of Baroda are linked with the Marginal Cost of Funds based Lending Rate, MCLR. These rates depend on numerous factors such as minimum rate of Return, banking operation expenses and cost of funds.

Strategic Premium of 0.25% shall levy in addition to the MCLR given overhead.

Interest rates on the Personal Loans at Bank of Baroda (MCLR)

The bank will offer personal loans to the new borrowers linked with MCLR rate system. These rates are subject to change without prior notice. The MCLR rates for Baroda Personal Loan is MCLR for one year + Strategic Premium +4.50%. The MCLR rate for Baroda Premium Personal Loan, Category A and Category B are MCLR + Strategic Premium + 3.00% and MCLR + Strategic Premium + 4.00% respectively.

Base rate and Prime lending rate at Bank of Baroda (existing borrowers)

  • The existing borrowers can get their personal loans linked to the interest calculation of Base rate system. This rate is set by RBI every year. It is the minimum rate allowed to the bank to charge its customers.
  • The Prime lending rate charged by the banks on loans is calculated as an average of the interest rate.

The interest rate on the Base rate system on personal loans

the bank offers personal loans to its existing customers on the new base rate system. The applicable interest here is Base rate plus 4.5%. The existing customers can also switch to the MCLR interest system.

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